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DAMON TO PAY SEMI-ANNUAL CASH DIVIDEND

 DAMON TO PAY SEMI-ANNUAL CASH DIVIDEND
 NEEDHAM HEIGHTS, Mass., June 10 /PRNewswire/ -- Damon Corporation


(NYSE: DCL) today announced that its board of directors has established a dividend policy of paying cash dividends at an annual rate of $.10 per share payable on a semi-annual basis. The board of directors has declared the first cash dividend of $.05 per share, which will be payable on July 1, 1992, to common stockholders of record as of June 22, 1992.
 Robert L. Rosen, chairman of the board and chief executive officer, commented, "This is the first dividend Damon has paid to common stockholders since the company was taken private in May 1989. This dividend is further evidence of our confidence in Damon's ability to continue to build and deliver value to shareholders. Damon's decision to pay a semi-annual cash dividend also reflects its greatly enhanced capital structure and strong operating results. Damon expects to continue its record of internal growth and external growth through acquisitions focused solely in the clinical laboratory industry." As of June 10, 1992, Damon had 16.1 million common shares outstanding.
 Damon Corporation, one of the nation's leading clinical laboratory testing companies, provides a full range of high quality, technologically advanced testing services to the medical community, corporations, federal and state governmental agencies and municipalities nationwide and is a leader in substance abuse testing, preventive health screening and AIDS testing.
 -0- 6/10/92
 /CONTACT: David C. Asheim of Damon, 617-449-0800; or Lissa Perlman of Kekst and Company, 212-593-2655, for Damon/
 (DCL) CO: Damon Corporation ST: Massachusetts IN: HEA SU: DIV


GK-OS -- NY019 -- 8702 06/10/92 09:45 EDT
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Publication:PR Newswire
Date:Jun 10, 1992
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